NZ Officials participate in OECD BEPS discussions

Revenue Minister Todd McClay has
confirmed that senior IRD officials are to participate in
OECD discussions on base erosion and profit shifting (BEPS)
in Paris this week.

“In his opening statement to
Parliament on Tuesday the Prime Minister stated an intention
to maintain a focus on combatting base erosion and profit
shifting by multinationals,” Mr McClay says.

“New
Zealand’s on-going involvement in OECD discussions over
the international response to BEPS further demonstrates the
Government’s commitment to working with the international
community to tackle this complex issue.”

“My officials
are contributing to discussions on the growth of the digital
economy, its impact on tax bases, and possible solutions to
combatting the BEPS problem.”

"New Zealand’s
participation at these forums is highly valued, in part
because of the strength and integrity of our domestic tax
laws.”

“As New Zealand is becoming more and more
attractive as a place to do business and invest in, it is
critical that we continue to strengthen our tax rules to
ensure overseas companies pay their fair
share.”

“Multilateral cooperation is the key to
addressing these cross-border issues. Multinational base
erosion and profit shifting requires a pragmatic
international response; it is clear that it cannot be solved
by individual countries working in isolation,” Mr McClay
says.

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